Film producer Siddharth Roy Kapur has decided to step down from his role as Managing Director and CEO of Disney India come December, to start his own business, Walt Disney International Chairman Andy Bird, confirmed, in an email to his employees. Mahesh Samat, the former CEO, will return to the position that he held between 2008 and 2012, and officially take charge on November 28.
“Almost 12 months ago Sid spoke to me about the future and his personal ambition to start his own business and with that in mind he decided not to renew his contract that ends this December. As a result of that conversation, we put in place a succession plan aimed at finding the right leader to take over, and guarantee a smooth transition,” Bird said, adding that Samat will return to the company.
Praising Kapur for carving a strong position for Disney in the Indian entertainment industry, Bird, in his email, highlighted the achievements of Disney India under his leadership.
“Under Sid’s leadership since 2014, awareness and affinity for the Disney brand has increased substantially. The team released India’s Highest Grossing Movie of All Time (PK) and India’s highest grossing Hollywood movie of All Time (The Jungle Book); consolidated its position as the No.1 Kids television network in the country; has grown the consumer products business, emerging as India’s largest branded licensor of consumer products; and finally, pioneered a new format of entertainment in the country by producing Disney’s Beauty and The Beast, the first-ever Broadway-scale theatrical show to be mounted in India with a completely local cast and crew. We are immensely thankful of his service and wish him well in his next venture” the email read.
Mahesh, Bird said, will resume management of all Disney businesses in India (except ESPN), with all local business segments reporting into him.
Last month, there were reports that Siddharth Roy Kapur would take over as president of The Film and Television Producers Guild of India. There was, however, no official confirmation of the same. The position is currently held by Mukesh Bhatt.
For all the latest India News, download Indian Express App nowFirst Published on: October 25, 2016 12:29 pm